The various product lines at banks are in constant competition for customer attention. But uncoordinated messaging comes with a high cost: Curinos analysis shows that the typical FI leaves $70 per customer on the table because relationship nurturing is poorly orchestrated across channels.
Each individual has communication preferences – a favored channel, the optimal number of reminders and a point at which repeated messages start to annoy them. A bank marketer can’t possibly code all of the rules needed to cover all of these preferences, so there’s a temptation to bombard the customer with ever more messaging, which drives up acquisition costs (see chart).
AI-fueled personalization can improve on a rules-based approach because it can reveal how to capture mindshare and plot the path to primacy for each customer. This is especially important in today’s world, where the cost per value acquired is trending in the opposite direction of response rates.
Response Curve vs. CPVA
Bombardment from product silos decreases
response rates, increases CPVA.
![](https://curinos.com/wp-content/uploads/2024/07/A2-2.png)
![](https://curinos.com/wp-content/uploads/2024/06/GettyImages-1365692265.jpg)
June 18, 2024
In Their Digital Experiences, Nextgen Users Want Both Aesthetics And Practicality
![](https://curinos.com/wp-content/uploads/2024/06/GettyImages-1171268236.jpg)
June 13, 2024
Deposit Update: Nominal Growth In 2024 If Fed Can Cut
![](https://curinos.com/wp-content/uploads/2024/06/GettyImages-1266820625-1024x683.jpg)
June 11, 2024
Price Is Driving Changing Dynamics In Portfolio Lending